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Bitcoin Continues to Struggle at $67K Level

Bitcoin made multiple attempts to surpass the $67,000 mark in the past few days but was unsuccessful in decisively breaking through, currently hovering just below it. The market remains tense as investors await the next move.

The altcoin market, on the other hand, is showing positive signs. Ethereum (ETH) has surged to $3,250, and TON has managed to recover some of its recent losses. Notably, HBAR stands out as today’s top performer, following its interaction with BlackRock.

Bitcoin’s Recent Price Volatility

Last week, Bitcoin experienced significant price swings, largely attributed to escalating tensions between Iran and Israel. The heightened uncertainty led to a sharp drop in BTC’s price just before the fourth halving event. However, following Iran’s announcement of no immediate retaliation, Bitcoin staged a strong recovery, gaining over $5,000 in a short period.

After a minor pullback to $63,000, Bitcoin quickly rebounded and traded around $65,000 post-halving. While the price fluctuations have since stabilized, Bitcoin has been testing the $67,000 resistance level without decisive breakthroughs, currently sitting slightly below it.

Despite its market capitalization exceeding $1.3 trillion, Bitcoin’s dominance over altcoins has slightly decreased, standing at 50.7% on CoinGecko.

HBAR Partnership with Archax

Recent news revealed that Hedera Hashgraph (HBAR) had partnered with Archax to tokenize BlackRock’s ICS US Treasury money market fund on its blockchain. This development led to a significant surge in HBAR’s price. However, clarification from Archax’s CEO indicated that BlackRock was not directly involved in selecting Hedera, causing some retracement in HBAR’s value. Nonetheless, HBAR still managed to maintain a 60% gain for the day.

Notably, meme coins dominated the list of top gainers among the top 100 altcoins, highlighting the ongoing market trends. Beyond these outliers, major altcoins like Ethereum (ETH), TON, Solana (SOL), and Binance Coin (BNB) also saw positive movements.

The total cryptocurrency market capitalization has approached $2.6 trillion, as reported on CoinGecko.

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